The Superintendent of Industry and Commerce has opened an investigation of Ecopetrol (NYSE:EC) and a suppliers association in Meta, based on accusations of forming a cartel to control the production and distribution of construction materials destined for the oil industry.
E&P firm Hocol says that it will drill an exploration well, named “Pegaso”, in the CPO 16 block, located in La Macarena, Meta, near the area where an exploration program of Hupecol caused widespread controversy and a revoked license.
After successive production growth, Geopark´s (NYSE:GPRK) oil and gas production dropped for the first time, but the firm was able to shrink its loss compared to the first quarter and last year.
As Ecopetrol (NYSE:EC) closed an intense six months which included the operational launch of the Cartagena Refinery (Reficar), the handover of Cusiana and Rubiales and a management restructuring. The firm reported that during the second quarter its production has faltered but its financial results improve on the first quarter of the year.
Ecopetrol (NYSE:EC) has started the process of naming a new president for the Cartagena Refinery, with an international headhunt expected to bring an executive with precise knowledge of the petrochemical market and refining operations.
Ecopetrol (NYSE:EC) has announced that the Gunflint field has started producing 20,000bd, of which its US subsidiary has a 31.5% share, and the NOC highlighted the strategic nature of this sort of asset.
Canacol Energy (TSX:CNE) said that its second quarter 2016 production and revenues have set a corporate record as it posted double digit growth and consolidated its offer of natural gas.
Pacific E&P published its second quarter 2016 results, which saw a decrease in production and revenues as the firm’s future awaits its ongoing restructuring process. These results marked its last quarterly report that will include the Rubiales field.
Parex Resources (TSX:PXT) saw a slight sequential increase in oil production during the second quarter of 2016, and shrunk its loss, nearing the breakeven point.
Colombia’s central bank updated its official numbers for Foreign Direct Investment (FDI) in the petroleum sector and there is good news and bad news.
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